My Mutual Fund: August 2007

August 31st, 2007

This month was definitely not what I had hoped for. I essentially started Genesis at the very top of a market… within days of starting the mutual fund the entire sub-prime lending fiasco hit and the market tanked over 10%+. Although the markets have recovered a bit since the fiasco hit, my mutual fund hasn’t :-(. Genesis ended the month down 9.64% and has a NAV of $9.19.

Excuses, Excuses

Since my mutual fund was down within days, I decided to keep purchasing more stock while the prices went lower, effectively averaging my price down on some stocks. I rebalanced my portfolio three times this month, normally trying to have a minimum of 4.25% portfolio weighting within a stock. Only one stock was significantly larger, when I decided to take an 8% position in NAK.

I decided to sell GG, as I believed NAK would be a better place for my money. I also sold TNH as I had no clue why I bought that company to begin with.

Winners & Mostly Losers

My biggest winners were GRMN at 26.83% and WFMI at 10.32%. Coincidentally, these are two of the main stocks (well, options really) that I have been investing in for My Hedge Fund.

Of the 18 stocks my Mutual Fund now holds, only 4 are sitting with positive returns. The rest are negative. My worst performing stock is also the stock I took the biggest position in, NAK. Go figure. SLW, one of my favorite stocks is down 21.44%. I’ll be taking this as an opportunity to get in heavier on SLW.

My Mutual Fund Holdings

• 480 GRMN
• 1,080 WFMI
• 1,480 HCP
• 350 CMI
• 770 KO
• 7,290 UVE
• 1,050 GE
• 590 CNQ
• 1,390 MSFT
• 770 CNI
• 2,340 TTM
• 1,730 YHOO
• 2,240 PGH
• 1,820 CLMS
• 2,800 CNE
• 1,420 HTE
• 3,210 SLW
• 5,700 NAK

Let’s hope next month I do better. I don’t think I can do much worse as I did buy all the assets at the top…

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